JWI - Just Water International [Archive]

JAMP

03-06-2004, 06:03 PM

Curious as to whether anyone is in the know with respect how their recently closed IPO went? I was tempted to sign up but of late I have become somewhat hesitant about chasing IPO's. I rationalised that there shouldn't be too much risk involved with me waiting until it is a fledgling on the NZAX.

I guess all will be revealed come June 15.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

Lawso

03-06-2004, 08:36 PM

Had a look at it, checked the prospectus, decided No - on gut feel rather than analysis.

JAMP

09-06-2004, 10:36 AM

Thanks for your views Lawso

I too passed the IPO by on gut feel, admittedly more about the IPO process for me than the company. I felt quite comfortable with the information provided in the prospectus. I found that generally it made for plain simple reading.

With the exception of a short blurb from the NZX in one of their press releases, I have yet to see any bleating from the mountain-tops about how successful the IPO was. I guess it is just a matter of waiting to see how they come out of the blocks on 15Jun04 and taking it from there.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

foodee

09-06-2004, 01:49 PM

First IPO for me in a loong time.
2 main points attracted me [1]only 8% of businesses have this facility - hence potential growth is significant and [2] vendor holding all their shares at this stage apart from the 1 million dollar worth given to Onehunga Business school.
Waiting with interest and looking to top up.[:p]

willy_wonker

09-06-2004, 02:06 PM

Does this company make a profit, if so what is the profit or forecast?

Just wondering if it is going to be like FTB?

JAMP

09-06-2004, 02:39 PM

I am not particularly au fait with Tony Falkenstein (http://www.stuff.co.nz/stuff/0,2106,2934925a13,00.html), but it would certainly seem like he has some scruples. Good publicity for JWI too.

Willy, a quick trip to their website (http://www.jwi.co.nz) will help you track down their prospectus. That should show a history of profitability as well as their expectations to 30Jun04. From memory they are talking a div yield around 8.4%.

JWI aren't going to have very many shares in free-float. This and the fact that they will get little market exposure (being NZAX listed) means it is possible that their shareprice will exhibit volatile tendencies off a low trading volume. It is unlikely that they will appeal as a stock to many.

Please also take into account that I am a little fish who prefers to swim well away from the big fish. I also like my water to be nice and fresh ;)

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

willy_wonker

09-06-2004, 03:14 PM

Jamp,

Without readin the entire prospectus, can you just give me the following highlights?

1. What is the money raised use for?
2. P/E?
3. Debt?
4. How much is the promoters keeping for themselves?

thanks

craic

09-06-2004, 03:23 PM

Just listening to talkback half an hour ago involving people ringing in to offer acolades to those who turned the callers lives around etc. Tony Falkenstein was mentioned by one caller as a man who gave one million dollars to the business school but [u]also</u>gave one million dollars in shares to his old school and one million in shares to Auckland? university business school. Never heard of him before that.

JAMP

09-06-2004, 03:40 PM

Crikey Willy, I had to scan through the prospectus for the answers to those questions!

1) The money raised (circa $8.25m) was being used to pursue growth opportunities as well as retire some term debt ($5.4m) that was taken on to acquire Aqua-Cool Limited ($6m).

2) Projected PE is 15 based on the offer price of 50cps. Had acquisitions been on books at 01Jul03, projected pro-forma PE is 12.

3) As I read it, term debt at30Jun04 is projected to be $1.7m with current liabilities of $0.8m.

4) The previous stakeholders are keeping roughly 75% of the company. Probably a little under now that they have donated 3m shares.

Of course, don't take my reading of the prospectus for granted. It is, as I have already mentioned, plain and simple to understand.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

10-06-2004, 12:37 PM

Many times over subscribed. No advertising needed to attract shareholders, and no reason for them to shout from the rooftops.

quote:Originally posted by JAMP

Curious as to whether anyone is in the know with respect how their recently closed IPO went? I was tempted to sign up but of late I have become somewhat hesitant about chasing IPO's. I rationalised that there shouldn't be too much risk involved with me waiting until it is a fledgling on the NZAX.

I guess all will be revealed come June 15.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

willy_wonker

10-06-2004, 12:43 PM

Interesting little company. Thanks Jamp. Willy will keep a close eye on this one. :)

Halebop

10-06-2004, 01:54 PM

Its hard to really determine their performance from the noise all their acquisitions have made on the numbers. Still, it looks a sound proposition. A bit too pricey for my parsimonious methods though.

mikescott

12-06-2004, 11:04 AM

I be having big allocation be from my broker and be looking forward to BIG listing price. :D

Peoples already be wanting to buy off me for 55 cents but I be saying $1.00 in a year's time be happy to let a few go. [^]

foodee

12-06-2004, 05:30 PM

Minder
Hope you be right. Looking to top up on Tuesday/Wednesday/Thursday next week.;)

mikescott

15-06-2004, 12:23 PM

quote:Originally posted by minder

I be having big allocation be from my broker and be looking forward to BIG listing price. :D

Peoples already be wanting to buy off me for 55 cents but I be saying $1.00 in a year's time be happy to let a few go. [^]

66 cents & 32% Profit!!!!!!!!!!! Yes!!!!!!:D:D:D:D[:p][:p][:p]

Here be hoping that newspapers they be writing more about IPO fatigue and nobody they be wanting IPOs. More for me. [:p][:p][:p]

mikescott

17-06-2004, 07:46 PM

72 cents and 44% profit.

And acres of buying. This be going to $1.00 soon. Then happy to sell a few. :D

JAMP

18-06-2004, 08:07 AM

quote:I rationalised that there shouldn't be too much risk involved with me waiting until it is a fledgling on the NZAX.

Congratulations to all those who got on at the right stop. Whilst I feel a bit of a wally for missing out, I do feel quite good about having identified its potential.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

mikescott

27-06-2004, 10:04 AM

<center>76 cents & 52% Gain. </center>

Took some profits and reinvesting it in CanWest. :D

dingdong

28-06-2004, 11:56 AM

You're the best Master Minder and we are unworthy to have you contribute to this site.

Canwest it is then....

Futurz

28-06-2004, 12:19 PM

quote:Originally posted by Abdab

You're the best Master Minder and we are unworthy to have you contribute to this site.

Canwest it is then....

You're so sad Minder :(, making up another sign on to stroke your ego some more [xx(]

dingdong

28-06-2004, 12:29 PM

Futurz sir I am not Minder although I am deeply honoured that you may have confused me with Minder, the Guru of Sharetraders.

mikescott

28-06-2004, 12:40 PM

No need to be sarcastic, Abdad. :(

Just passing on my thoughts and information - you guys are always free to ignore them or challenge them. :D

More debate = more knowledge. ;)

Happy Camper

04-07-2007, 08:13 PM

This Happy Camper picked up a small parcel of these today.

I have been watching the shareprice trend downwards of late, and I am picking we are somewhere near the turning point.

Cheers

tim23

03-03-2008, 07:51 PM

Are you still holding Happy Camper? Anyone else considering these lately?

COLIN

03-03-2008, 09:40 PM

Are you still holding Happy Camper? Anyone else considering these lately?
I don't follow them, but one look at the sp graphs would be enough to frighten me away from considering them, in the present investment and business climate. Tim - why would you want to consider them? Remember, BUY INTO STRENGTH, SELL INTO WEAKNESS.

Footsie

04-03-2008, 09:23 AM

I sold out at 1.10 when the went into aussie

E C K Witty

30-03-2008, 09:52 PM

A good chance for a 10% lift in the shareprice of JWI tomorrow?

COLIN

30-03-2008, 10:07 PM

A good chance for a 10% lift in the shareprice of JWI tomorrow?
Pray, why?
I recently read somewhere that it is now becoming unfashionable to buy bottled water - "Food Miles" and all the other claptrap surrounding this new Climate Change religion that is being foisted on an unsuspecting public.

macduffy

31-03-2008, 08:45 AM

I don't know anything about a 10% rise in the SP but isn't Just Water's business mainly the provision of water coolers/containers to businesses, mainly offices?
I don't see that being impacted in the same way as the possible "unfashionableness" of bottled water but I guess there could be some effect at the margin, particularly if businesses take the axe to discretionary costs.

E C K Witty

31-03-2008, 09:12 PM

COLIN, I was only noting the spread between buy and sell orders at the time.

I thought that with today being 31/3/08 there may be the opportunity for an end of day buyer of a small parcel at 60c to seriously manipulate the shareprice. As it turned out, it was mere supposition on my part.